CH. 2 and 3
he highest and most desirable form of ownership that can be obtained in residential real estate is which of the following?
the fee simple absolute estate
A conventional life estate is created through which of the following?
a fee simple owner grants the life estate to the life tenant
Which of the following is an example of intangible property?
a patent
A pur autre vie life estate endures over the lifetime of
a third person, after which the property passes from the tenant holder to the original grantor
Which of the following is an illustration of the legal concept of elective share?
a widow who was excluded from a will makes a claim to a portion of the couple's principal residence
An item can be converted from real to personal property and vice versa by means of which processes?
affixing and severance
All but which of the following would fit within the "Bundle of Rights", according to your text?
all could be considered in the "Bundle of Rights"
When deciding if property is real property or personal property, which of the following can be used to differentiate between the two?
all could be used to determine between real and personal property
There is a field of sunflowers growing on a property that has been purposefully planted, watered. and soon to be harvested for sunflower oil. The sunflower crop would be which of the following:
an emblement
Which level of government controls zoning laws?
county and local
The level of government that controls zoning law is which of the following?
county and local governments
The right of private ownership of real estate in the United States is guaranteed within which of the following?
the Constitution of the United States
A tenant who occupies the premises without the consent of the landlord and fails to vacate the premise at the expiration of the lease is known as which of the following?
estate at sufferance
The six-month lease expires and the tenant continues to send the monthly rental payment, which the landlord accepts and deposits. This is known as which kind of leasehold estate?
estate for period-to-period
The three unique characteristics of land are which of the following?
immobile, indestructible, heterogeneous
A right that that is attached to properties abutting water that is not moving such as a lake or a sea is called which of the following?
littoral rights
Which level of government is the primary regulatory entity for the real estate business?
state government
